BSkyB appeal extension on ITV

BSkyB has been granted an extension of the time it can apply to the Competition Appeal Tribunal over a forced sale of its stake in rival broadcaster ITV.

Originally BSkyB was meant to decide on an appeal by January 16th but has been granted permission to wait and hear the view of the secretary of state for business John Hutton, who will announce his verdict on January 29th.

Analysts have warned that there is no obvious buyer for a stake of more than 10 per cent in ITV, saying it could take BSkyB months to offload the shares, further depressing the price. BSkyB has not yet decided whether to launch an appeal but has criticised the commission’s findings as "unprecedented".